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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1997 Page 1 of about 92 results (0.090 seconds)

Dec 12 1997 (HC)

The Commissioner of Income Tax (Central-ii), Kolkata Vs. M/S. Bhartia ...

Court : Kolkata

Decided on : Dec-12-1997

Reported in : (1998)1CALLT306(HC),[1998]232ITR785(Cal)

..... being carried out or not. we find ourselves in agreement with the view expressed by the tribunal and for the reason indicated herein below.3. under section 35cca of the income-tax act, every assessee who incurs any expenditure by way of any sum which he donates to an association or institution which has as its object the undertaking of any programme of ..... . the facts are indeed very short and simple. the assessee claimed deduction under section 35cca of the income-tax act in respect of two donations of rs. 7,50,000/- each made by the assessee to two institutions, namely jayshree gram vlkash trust and jagannath rural development kendra. the deductions ..... has been referred for our opinion :--'whether, on the facts and in the circumstances of the case, the tribunal was justified in allowing the deduction under section 35cca of the income-tax act for rs.15,00,000/- in respect of donations of rs.7,50,000/- each to m/s. jayashree gram vikash trust and m/s. jagannath rural development kendra?'2 ..... on which the deductions were disallowed were perhaps motivated because of the lack of response for these two institutions after notices under section 131 of the income tax act were issued to them. it was found by the income-tax authorities that these two institutions were not responding to these notices and therefore it was presumed that the institutions were non-existent. coupled with that .....

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Dec 17 1997 (HC)

Commissioner of Income-tax Vs. Smt. Nandini Nopany

Court : Kolkata

Decided on : Dec-17-1997

Reported in : [1998]230ITR679(Cal)

..... assessment year involved is 1984-85 for which the previous year ended on march 31, 1984. the assessment was completed under section 143(3) of the income-tax act, 1961 on january 27, 1987. 3. during the relevant previous year, the assessee was the proprietor of a concern known as nandini traders in which ..... sold by the assessee, in our opinion, was not correct. we are of the view that the tribunal rightly upheld the finding of the commissioner of income-tax (appeals). it is not a case where any understatement of value or misstatement of value of the shares sold was made by the assessee. this is ..... our opinion : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in upholding the order of the commissioner of income-tax (appeals) in deleting the addition of rs. 7,57,076 made by the assessing officer on account of transfer of shares made by the assesseeto vishwa mangal ..... the difference of the value by fraudulent means. there was no evidence direct or inferential, nor was there any finding by any income-tax authority that the assessee indulged in such a practice. we are fortified in our view by a judgment of the supreme court in the case of ..... assessee by the assessing officer. 7. being aggrieved, the revenue filed an appeal before the tribunal. the tribunal upheld the finding of the commissioner of income-tax (appeals) by agreeing with the contentions. thus, under those circumstances, the aforesaid question of law has been referred to us for our opinion. 8 .....

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Nov 28 1997 (HC)

Commissioner of Income-tax Vs. Air Survey Co. of India (P.) Ltd.

Court : Kolkata

Decided on : Nov-28-1997

Reported in : [1998]232ITR707(Cal)

..... and aero-magnetic photography done for the surveyor-general of india and the atomic mineral division of government of india. the assessee claimed investment allowance under section 32a of the income-tax act, 1961, in respect of the aircraft-radio purchased in the previous year relevant to assessment year 1982-83. the inspecting assistant commissioner (assessment) rejected the assessee's claim on the ..... was entitled to investment allowance under section 32a on the aircraft radio ?'2. the answer to this question revolves around the interpretation to be put to section 32a of the income-tax act, 1961, particularly, the expression 'manufacture or production of any article or thing' as occurring in sub-section (2) of that section.3. the assessee is air survey co. of india ..... assessee could not be called as manufacture or production and that in the nature of the assessee's business no thing or article was produced as such. the commissioner of income-tax (appeals) upheld the aforesaid finding of the inspecting assistant commissioner. the tribunal, in appeal, however, reversed the aforesaid finding and allowed the relief in favour of the assessee by ..... the tribunal is correct. we are fortified by two bench decisions on the point, one of the rajasthan high court in the case of cit v. trinity hospital and the other of the kerala high court in the case of cit v. upasana hospital : [1997]225itr845(ker) .5. the question is accordingly answered in the affirmative and in favour of the assessee. .....

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Dec 12 1997 (HC)

Commissioner of Income-tax Vs. Smt. Joytsna Poddar

Court : Kolkata

Decided on : Dec-12-1997

Reported in : [1998]232ITR759(Cal)

..... the observations made by him. while exercising his revisional power under section 263 of the income-tax act, the commissioner of income-tax made observations with regard to the nature of the transfer of the shares by the assessee to akshoy trading pvt. co. ltd., ..... whether, on the facts and in the circumstances of the case, the tribunal was right in setting aside the order of the commissioner of income-tax passed under section 263 of the income-tax act, 1961 ?' 2. the facts giving rise to the aforesaid reference, briefly stated, are that the assessee, a resident individual, transferred in ..... the ratio in the case of mcdowell and co. ltd. v. cto : [1985]154itr148(sc) , the commissioner of income-tax passed an order under section 263 of the income-tax act setting aside the entire assessment order passed by the assessing officer and directing him to pass a fresh assessment order based on ..... and held that this was a device used by the assessee to deprive the revenue of the income-tax by way of yearly income every year and for the next ten years or thereabout. 4. on appeal the tribunal set aside the order of the commissioner ..... by holding that the transfer of the shares by the assessee to akshoy trading co. pvt. ltd. was by way of a part of tax planning and that since the transfer was a genuine act .....

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Nov 28 1997 (HC)

Commissioner of Income-tax Vs. Supreme Credit Corporation Ltd.

Court : Kolkata

Decided on : Nov-28-1997

Reported in : (1998)148CTR(Cal)539,[1998]230ITR700(Cal)

..... 'house property' and not from 'other sources' ?'2. the point indeed is very simple. under section 22 of the income-tax act the value of the property which is chargeable to income-tax shall be chargeable to income-tax under the head 'income from house property', if the assessee is the owner of the property. the admitted facts in this case was that the assessee was the lessee ..... raised over the leasehold property by virtue of the right given to him under the lease agreement. admittedly, the lessee was claiming the benefit under section 22 of the act from the income derived from the house of the leasehold property as it was let out to him by the lessor, without raising any structure thereupon.7. in that view of the ..... property and thus falling within the purview of section 22 of the act since it had the right to demolish the structure over the land and to raise new construction thereon.3. earlier the assessee's claim under section 22 was rejected by the assessing officer and the commissioner of income-tax (appeals) on the ground that the assessee was only the lessee ..... of the property and not its owner.4. we find that the tribunal's findings treating the assessee as the owner by applying the ratio in the judgment of this court in ballygunge bank ltd. v. cit : [1946]14itr409(cal) is not correct .....

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Jul 16 1997 (HC)

Smt. Shree Kumari Mundra Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-16-1997

Reported in : [1997]228ITR548(Cal)

..... the subject-matter of the present reference. 31. the oral application made under section 261 for leave to appeal to the supreme court under the income-tax act, 1961, is refused as the matter, in our opinion, is quite clear and the money stakes are not so high that we should give ..... silver utensils sold by the assessee were not personal effects so as to bring in the exemption granted by section 2, clause (14) of the income-tax act. 30. the questions as answered shall be transmitted to the tribunal which will pass its appropriate order thereon granting exemption to the assessee in respect ..... and water container (kalash). 15. the second question relates to whether the utensils were personal effects within the meaning of section 2(14) of the income-tax act. 16. if those were personal effects entire exemption should have been given to the assessee in regard to the sale price obtained because the sale of personal ..... holding that the silver utensils sold by the assessee during the previous year were not personal effects within the meaning of section 2(14) of the income-tax act ?'6. we propose to take the two questions serially. so far as the first one is concerned, mr. bajoria submitted that although the ..... authorities were relied on in this regard. the first case given by mr. bajoria is a division benchdecision of our court given in the case of cit v. benarashilal kataruka : [1990]185itr493(cal) . it was relied upon for the proposition that it is mainly on the nature of articles that the .....

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Mar 21 1997 (HC)

Karam Chand Thapar and Bros. (Coal Sales) Ltd. Vs. Deputy Commissioner ...

Court : Kolkata

Decided on : Mar-21-1997

Reported in : [1997]227ITR793(Cal)

..... advocate for the petitioner. according to dr. pal, 'paper transaction' is a concept which is not borne out from any provision of the income-tax act and even though the 11 lakh electric meters were not physically taken over in the sale and lease transaction between the gujarat state electricity board and ..... electric meters were brand new, the petitioner was entitled to 100 per cent. depreciation in respect of all those meters under section 32 of the income-tax act.3. reliance has been placed by dr. pal upon certain judgments of the supreme court and the calcutta high court. later on, stress has ..... to the petitioner's claim for 100 per cent. depreciation allowance amounting to rs. 35.10 crores in terms of section 32 of the income-tax act. the petitioner is aggrieved by certain observations, made in the impugned notice and has come up to this court assailing the very jurisdiction of ..... out to the gujarat state electricity board.6. the argument that if the decision goes against the petitioner, the petitioner may have to pay income-tax is also without substance. no assessee can be permitted to circumvent or short circuit the normal procedure by approaching this court as and when the ..... effectively. her decision on all such questions, is always subject to further scrutiny of the first appellate forum and even further appeal before the income-tax appellate tribunal. the petitioner is not without any remedy even if it presumes that the decision of the assessing authority may go against it. .....

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Mar 04 1997 (HC)

Commissioner of Income-tax Vs. Suman Tea and Plywood Industries (P.) L ...

Court : Kolkata

Decided on : Mar-04-1997

Reported in : [1997]226ITR34(Cal)

..... with his business or profession, but does not include, inter alia, agricultural land in india. the word 'agricultural land' has not been defined in the income-tax act. however, agricultural income has been defined in section 2(1a) of the income-tax act.21. in state of kerala v. karimtharuvi tea estate ltd. : [1966]60itr275(sc) , the supreme court held that the grevelia trees were capital ..... thus the tribunal did not commit any mistake which could be rectified under the said provision.16. the jurisdiction or the authority of the tribunal is circumscribed by the income-tax act. the said act has not authorised the tribunal to review its orders. it does not have any inherent or otherwise jurisdiction, it is well-settled, to review its orders. therefore, it ..... assets and the proceeds derived by sale as firewood of those trees did not constitute income under the kerala agricultural income-tax act, 1950, but while doing so observed that there is no controversy about the fact that the owners of tea estates plant grevelia trees not for the purpose of ..... its orders. an order, which has been passed by the tribunal reaches finality, the moment the same is passed ; it cannot be touched thereafter. by section 254(2) of the income-tax act, the tribunal, however, has been authorised to rectify mistakes in its orders, which are apparent on the face of the records. the expression 'mistake apparent on the record', it .....

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Jan 09 1997 (HC)

Commissioner of Income-tax Vs. R.M. Investment and Trading Co. (P.) Lt ...

Court : Kolkata

Decided on : Jan-09-1997

Reported in : [1997]225ITR537(Cal)

..... . 7,50,000 paid by the assessee to sri n. k. tapuriah, a director of the company did not fall within the purview of section 40(c)(i) of the income-tax act, 1961, and thereby deleting the addition of rs. 6,48,000 made in the assessment ?' 2. the facts giving rise to the above two questions are these that under an ..... v.n. khare, c.j. 1. this is a reference under section 256(1) of the income-tax act, 1961, for the assessment year 1985-86, at the instance of the commissioner of income-tax, west bengal-ill, calcutta. the income-tax appellate tribunal, calcutta, has referred the following two questions for answer to this court :' (1) whether, on the facts and in the circumstances of the case ..... as in the assessment year 1984-85 and claimed expenses against the receipt as in that year. the assessing officer disallowed the claim. on appeal both the learned commissioner of income-tax (appeals) and the tribunal upheld the claim of the assessee. it is in this background the abovequoted two questions have been referred to us for answer.3. learned counsel appearing ..... and against the department.8. so far as question no. 2 is concerned, it is admitted between the parties that it stands concluded by a decision in the case of cit v. r. m. investment and trading co. p. ltd. 0065/1993 : [1994]209itr121(cal) . in view of this, we answer this question in the affirmative and against the department.9 .....

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Sep 17 1997 (HC)

Commissioner of Income-tax Vs. Schlumberger Sea Co. Inc.

Court : Kolkata

Decided on : Sep-17-1997

Reported in : [2003]264ITR331(Cal)

..... under section 143(3), the inclusion of the same in the order under section 154 was a debatable issue and was not within the jurisdiction of section 154 of the income-tax act, 1961 ? 2. whether, on the facts and in the circumstances of the case, the tribunal was justified in law in admitting the additional evidences which were not raised before the ..... discharged.2. since we are discharging the rule, some reasons and background are necessary.3. the assessee was, on an admitted basis, liable to be taxed in accordance with the provisions of section 44bb of the income-tax act, 1961.4. roughly speaking that section provides that when a non-resident receives amount for supplying plant and machinery for production of mineral oils, the ..... amount paid to the assessee is not wholly to be taxed as profits and gains of business or profession but that only 10 per cent. of such ..... with the power of rectification under section 154. in the assessment made under section 143 of the act there had not been included in the assessee's income the amount of tax paid on behalf of the assessee by the ongc to the department.7. that tax paid was sought to be included by rectification. thus, in the first batch of appeals the main .....

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